Tag Archives: refinance
Facts About the Benefits of SBA 504 Loans for American Small Businesses
The National Association of Development Companies (NADCO) is the trade association for the nation’s 270 Certified Development Companies (CDCs). CDCs are certified by the U.S. Small Business Administration (SBA) to provide financing to small businesses through what is called the SBA 504 loan program. Members are non-profit organizations that serve every state, as well as Puerto Rico and U. S. territories in the South Pacific.
Chris Crawford is the president of NADCO. The organization is based in McLean, Virginia.
NADCO is actively supporting the SBA 504 refinance program, a time-limited opportunity that is due to expire 9/27/12. This powerful program offers businesses the opportunity to refinance their small business loans and withdraw equity for working capital. The program offers lenders the opportunity to bring owner-occupied commercial real-estate portfolio back into regulatory compliance and reduce overall CRE portfolio concentrations.
FINANCING
The 504 industry is responsible for financing more than $45 billion to about 130,000 of America’s small businesses over the past 25 years. The total project amount funded has been over $112 billion in small business financing projects. With NADCO’s support, the 504 program’s loan authority is up from $400 million in 1991 to $7.5 billion in FY 2011.
REFINANCING
Many small business owners are not aware that if they have a commercial business loan (non-SBA loan) they can refinance that loan at very low rates using the 504. For many small businesses, this has meant the difference between success and failure. However, this program is scheduled to end on September 27, 2012.
Small businesses can SAVE money and time using the 504 refinance program. The 504 Refinance program allows small businesses to use excess equity to obtain working capital for eligible business expenses.
The 504 refinance loan program is designed for small businesses that have outstanding commercial real estate and/or commercial real estate loans. Businesses can refinance up to 90% of the appraised value of available collateral.
SBA estimates that as many as 8,000 businesses may participate in this 504 refinancing program during the current fiscal year, which will provide up to $7.5 billion in SBA-guaranteed financing leading to total project financing of almost $17 billion.
The 504 refinance loan program enables small businesses to:
Use excess equity to obtain working capital for eligible business expenses
Lock in long-term, fixed-rate, low-interest commercial financing
Help expand those businesses, create jobs and benefit consumers too
Consolidate existing debt
Finance eligible business expenses, saving working capital
Other benefits include:
consolidate existing debt (balloon and/or high interest rate loans)
lock in long-term, stable financing, reduce fluctuating expenses
finance eligible business expenses, save needed cash-flow
protect jobs and hire additional staff, supporting the local community
include closing costs in the transaction, eliminating cash-flow drain
Make Your Biggest Investment Work with Home Loan Refinance
It is often said that your home is the biggest investment you will ever make. Finding just the right one is the hard part. Making sure it gets paid for is life. Not taking advantage of it is silly. A home loan refinance program can make sure it lives up to all the advantages it is supposed to offer.
Taking advantage[amazon_link asins=’1503939324,1502830825′ template=’ProductCarousel’ store=’simplemicrofi-20′ marketplace=’US’ link_id=’8668e20c-b214-11e7-a319-c5016b220526′]
If you have been paying off your home on a regular basis you are building an investment in your future. You have heard it from the time you were younger. Buy a home and invest in your future. After a while you are perhaps wondering when that future will come to pass. When can you take advantage of all your hard work and diligence? Most people think retirement is the time to take advantage. If they choose retirement time to take advantage this is fine, but what about now? A home loan refinance program may be just right for you. Take the savings from a home loan refinance and pay off outstanding debt or make the repairs to your home that will ultimately increase its value.
Is the timing right for you?
New money has been pumped into the system, by the government, to make home loan refinance more accessible. If youre considering some new additions to your property, a long needed vacation or help paying for a childs education, home loan refinance may be for you. Pay less and use the saved money more productively
Expand your holdings
Paying into your home means that that money is just sitting there working for the bank. Why should they be able to take advantage of the money when you can? A home loan refinance program could let you expand your investment portfolio with saved income. Home loan refinance can let you invest in other properties to diversify your holdings. A property investment in your primary residence was a smart move. If one piece of property was wise, two may be better. Make the first investment work even harder with a home loan refinance program by buying a second property.
A buyers market
In many regions, the real estate market has finally topped out. Prices are actually beginning to come down. Everybody knew it had to happen at some point. Thats just the way the economy works, in cycles. Being ready to pounce at the right time is critical to finding just the right second property for your needs. A home loan refinance program will let you make your move when you are ready. A home loan refinance program will enable you to act fast if you need to.
The market is in a state of flux. Taking your bargain shot could be here now. Dont let that one opportunity slip past and consider your finance options ahead of time.